The African Development Bank Group (AfDB) has approved a $4 million grant to support Zimbabwe’s efforts to clear its longstanding debt arrears and restore engagement with the international financial community, marking another significant step in the country’s complex economic recovery process.
The funding will finance the Zimbabwe Arrears Clearance Dialogue Enhancement Project (ZACDEP), a new initiative designed to strengthen reforms, improve institutional capacity, and advance negotiations aimed at resolving the country’s heavy debt burden.
The approval reflects growing international support for Zimbabwe’s economic stabilization efforts after years of financial isolation, debt distress, and restricted access to international…